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(1)Subsection (2) applies if it appears to the competent authority that there are circumstances suggesting that—
(a)there may have been a breach of listing rules;
(b)a person who was at the material time a director of an issuer of listed securities has been knowingly concerned in a breach of listing rules by that issuer;
(c)a person who was at the material time a director of a person applying for the admission of securities to the official list has been knowingly concerned in a breach of listing rules by that applicant;
(d)there may have been a contravention of section 83, 85 or 98.
(2)The competent authority may appoint one or more competent persons to conduct an investigation on its behalf.
(3)Part XI applies to an investigation under subsection (2) as if—
(a)the investigator were appointed under section 167(1);
(b)references to the investigating authority in relation to him were to the competent authority;
(c)references to the offences mentioned in section 168 were to those mentioned in subsection (1)(d);
(d)references to an authorised person were references to the person under investigation.
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